Mortgage drawdowns hit new post-crash high of €14.1bn in 2022 via IrishTimesBiz
Commenting on the figures, BPFI chief executive Brian Hayes said: “Our latest mortgage data, which provides an annual picture for 2022, shows significant numbers of both drawdowns and approvals, and a particularly strong year for first-time buyers.”
The increase in approvals last year occurred despite a December slump in the number and value of new mortgages approved. Some 3,635 home loans were approved in the month, almost half of which were for first-time buyers. The December total represented a 33.1 per cent decrease in the volume of approvals from November and a 5.7 per cent decrease year-on-year.
The data indicates that mortgage demand remains robust despite the sharp increase in interest rates over the past year. The figures showed that the weighted average new Irish home loans rate was 2.57 per cent in November, unchanged from the previous month but 0.14 of a point lower than a year earlier.
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